Bristol-Myers Squibb (NYSE:BMY) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $74.00 to $78.00 in a note issued to investors on Friday, The Fly reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 27.37% from the company’s current price.

Several other brokerages also recently weighed in on BMY. Raymond James reiterated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Friday, September 25th. Cfra reiterated a “buy” rating and issued a $70.00 target price on shares of Bristol-Myers Squibb in a research note on Sunday, July 26th. Morgan Stanley lifted their target price on Bristol-Myers Squibb from $64.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Berenberg Bank began coverage on Bristol-Myers Squibb in a research note on Tuesday, September 29th. They issued a “buy” rating and a $73.00 target price on the stock. Finally, Seaport Global Securities began coverage on Bristol-Myers Squibb in a research note on Tuesday, July 28th. They issued an “outperform” rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $71.00.

NYSE:BMY opened at $61.24 on Friday. The stock’s 50 day moving average price is $60.00 and its 200 day moving average price is $59.86. The company has a market capitalization of $138.57 billion, a PE ratio of -612.34, a P/E/G ratio of 1.15 and a beta of 0.71. The company has a quick ratio of 1.36, a current ratio of 1.47 and a debt-to-equity ratio of 0.85. Bristol-Myers Squibb has a 52-week low of $45.76 and a 52-week high of $68.34.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.15. The firm had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $10.04 billion. Bristol-Myers Squibb had a positive return on equity of 28.47% and a negative net margin of 1.61%. The firm’s quarterly revenue was up 61.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.18 EPS. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.24 EPS for the current fiscal year.

In related news, CEO Giovanni Caforio sold 39,840 shares of Bristol-Myers Squibb stock in a transaction on Monday, August 31st. The stock was sold at an average price of $62.70, for a total transaction of $2,497,968.00. Following the completion of the transaction, the chief executive officer now directly owns 445,584 shares of the company’s stock, valued at $27,938,116.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Sandra Leung sold 141,420 shares of Bristol-Myers Squibb stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $63.24, for a total value of $8,943,400.80. Following the transaction, the executive vice president now directly owns 432,744 shares of the company’s stock, valued at $27,366,730.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,587 shares of company stock valued at $11,782,297. 0.14% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Ellevest Inc. increased its position in Bristol-Myers Squibb by 32.3% during the second quarter. Ellevest Inc. now owns 2,047 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 500 shares in the last quarter. Benedict Financial Advisors Inc. increased its position in Bristol-Myers Squibb by 1.2% during the second quarter. Benedict Financial Advisors Inc. now owns 44,064 shares of the biopharmaceutical company’s stock worth $2,591,000 after buying an additional 510 shares in the last quarter. WFA of San Diego LLC purchased a new position in Bristol-Myers Squibb during the second quarter worth $631,000. ARGI Investment Services LLC grew its position in shares of Bristol-Myers Squibb by 0.7% in the second quarter. ARGI Investment Services LLC now owns 25,688 shares of the biopharmaceutical company’s stock valued at $1,510,000 after purchasing an additional 190 shares during the period. Finally, Kistler Tiffany Companies LLC grew its position in shares of Bristol-Myers Squibb by 22.4% in the second quarter. Kistler Tiffany Companies LLC now owns 17,830 shares of the biopharmaceutical company’s stock valued at $1,048,000 after purchasing an additional 3,268 shares during the period. 72.61% of the stock is owned by institutional investors.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products in the following therapeutic classes: hematology, oncology, cardiovascular, and immunology. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with active RA and prostate-specific antigen, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.

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